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Royal Mail prepares for property sell-off
30/07/2007
Royal Mail is set for a second sell-off of post offices and sorting depots according to reports, just months after its first £70m sale. Property agents Atisreal have been appointed to undertake the sale, which is expected to include a "significant number" of retail post offices, along with offices and industrial buildings. Royal Mail has a property portfolio worth an estimated £2bn, and looks set to release more than £20m from this sale, which is likely to include many sale-and-leasebacks. Royal Mail said "We are continually reviewing our property estate as we move to increase efficiency, drive down costs and maintain a high level of service to customers in a competitive market."
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